Question

What sum of money will amount to Rs. $18873$ in three years at $19$% per annum compounded yearly?

• A. $8000$
• B. $10000$
• C. $12000$
• D. $11200$

Answer 1

The correct option is D $11200$

$A=P(1+\frac{r}{100}{)}^n$

$⟹18873=P(1+\frac{19}{100}{)}^3⟹P=11199\approx 11200$

Hence sum$=Rs.11,200$.